Veterinary hematology analyzers are a crucial device in the veterinary healthcare sector due to the important role they play in disease diagnosis and formulation of the treatment. Specialized hematology analyzers for animals have been developed relatively recently, but have become a significant hit in the veterinary medicine sector due to their undoubtable utility. The rising attention being paid by government bodies as well as individual owners to animal healthcare is likely to be a key driver for the global veterinary hematology analyzers market in the coming years.

According to Transparency Market Research (TMR), the global veterinary hematology analyzers market is likely to exhibit a solid 6.7% CAGR between 2016 and 2024. The market’s revenue is likely to correspondingly rise from US$663 mn in 2015 to close to US$1.2 bn by 2024.

Rising Investment in Animal Healthcare Likely to Remain Key Driver

The global veterinary hematology analyzers market is driven primarily by the growing interest of government bodies in ensuring the availability of the best healthcare options in animal healthcare, as many governments have realized the economic importance of maintaining healthy livestock. The veterinary hematology analyzers market is dependent to some degree on government support, as advanced veterinary hematology analyzers can be too expensive for individual owners. The increasing role of government bodies in animal healthcare is thus likely to remain a key driver for the global veterinary hematology analyzers market.

The booming demand for animal products in the food and beverage as well as consumer goods industries has made economic progression of the veterinary healthcare sector inevitable. The sector has thus seen technological advancement in various parts, including disease diagnostics, driving the demand from the global veterinary hematology analyzers market.

Table Top Analyzers Likely to Remain Dominant due to Greater Convenience

By product type, the global veterinary hematology analyzers market is segmented into table top analyzers and point of care analyzers. Of these, table top analyzers dominated the global veterinary hematology analyzers market in 2016, accounting for close to 75% of the market. Despite growing use of point of care hematology analyzers in a number of regions, table top analyzers are likely to retain their dominance in the global veterinary hematology analyzers market in the coming years due to their better ergonomics for long-lasting procedures. The multidimensional analysis enabled by table top analyzers is also likely to help ensure the segment’s dominance in the global veterinary hematology analyzers market in the coming years.

Geographically, North America is likely to remain the leading contributor to the global veterinary hematology analyzers market in the coming years due to the steady government support to technological advancement in the veterinary healthcare sector. The growing demand for pets and the attention being paid to their healthcare is also a vital driver for the veterinary hematology analyzers market in North America. Nevertheless, Asia Pacific is likely to emerge as an influential regional market in the coming years thanks to the high volume of livestock animals in the region and the rising adoption of technological advancements in the region’s traditionally run husbandry sector.